HAMBORNER REIT AG: Forecast for 2020 financial year updated
July 21, 2020 at 01:05 pm EDT
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DGAP-Ad-hoc: HAMBORNER REIT AG / Key word(s): Forecast
HAMBORNER REIT AG: Forecast for 2020 financial year updated
21-Jul-2020 / 18:58 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc disclosure in accordance with Article 17 of the Market Abuse Regulation:
HAMBORNER REIT AG: Forecast for 2020 financial year updated
HAMBORNER REIT AG, Goethestrasse 45, 47166 Duisburg, 21 July 2020
Taking into account the economic impact of the COVID-19 pandemic and, among other things, the recent positive development in the company's incoming rent payments, the Management Board of HAMBORNER REIT AG is now able to issue a meaningful assessment of business development in the current 2020 financial year. According to current projections, income from rents and leases will be between ?87 million and ?88 million in the 2020 financial year (previous year: ?85.2 million). Funds from operations (FFO) are expected to virtually match the high level of the past financial year in a range between ?52 million and ?54 million (previous year: ?54.3 million). Assuming an unchanged number of shares, the Management Board is anticipating a decline in NAV per share for 2020 in a single-digit percentage range.
This forecast is subject to there being neither a significant tightening of the restrictions due to COVID-19 (such as another shutdown with our tenants being ordered to close) nor currently unforeseen material insolvencies among the tenant base. The forecast also does not take into account the effects of possible acquisitions or disposals in the remainder of the year.
HAMBORNER REIT AG
Christoph Heitmann
Head of Investor & Public Relations
Tel: +49 203 5440532
Email: c.heitmann@hamborner.de
Web: www.hamborner.de
21-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
HAMBORNER REIT AG
Goethestraße 45
47166 Duisburg
Germany
Phone:
0203/54405-0
Fax:
0203/54405-49
E-mail:
info@hamborner.de
Internet:
www.hamborner.de
ISIN:
DE0006013006
WKN:
601300
Indices:
SDAX
Listed:
Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Hamborner Reit AG is a Germany-based real estate investment trust (REIT). The Company consists of real estate properties in cities across Germany. The Company focuses on retail space, as well as on specialist stores and office and medical centers. The Company owns real estate in Aachen, Augsburg, Bad Homburg, Bayreuth, Berlin, Bremen, Brunnthal, Celle, Ditzingen, Dortmund, Duisburg, Erlangen, Frankfurt am Main, Freiburg, Freital, Fuerth, Geldern, Giessen, Guetersloh, Hamburg, Herford, Hilden, Ingolstadt, Kaiserlautern, Kalsruhe, Kassel, Koblenz, Krefeld, Cologne, Langenfeld, Leipzig, Lemgo, Leverkusen, Luebeck, Luedenscheid, Lueneburg, Meppen, Minden, Mosbach, Munich, Muenster Neuwied, Oberhause, Offenburg and Oldenburg, among others.